Financing and Commercial Transactions
Smith, Gambrell & Russell, LLP has an active practice in virtually all areas of commercial financing (secured and unsecured), including factoring, asset-based lending, securitizations, capital and operating leases, as well as other commercial transactions, such as manufacturing, distribution and sales contracts, letters of credit and bulk transfers.
In the area of commercial lending and finance, we represent numerous state and federally chartered banks and financial institutions located in the Southeast and other parts of the country. Our representation of banks and other financial institutions includes structuring, negotiating, documenting and closing sales of accounts receivable (factoring), loans secured by accounts receivable, chattel paper, inventory, equipment or other real and personal property.
Leading our factoring and commercial finance practice are senior partners, who together have over 45 years of experience in the area. Our experience in the area began in 1977 with the representation of C&S Factors, Inc. (which later became Citizen and Southern Financial Corporation, NationsBanc Commercial Corporation and, most recently, Banc of America Commercial Corporation), in 1974, we began representing Walter F. Heller & Company, Inc. (now Heller Financial, Inc.). Since the 1970s, our firm has continued to represent both bank factoring and receivables finance operations and non-bank operations, such as Advance Financial Corporation, Fortune Financial Services, Inc., Commercial Factors of Atlanta, Inc., American Financial Group, Inc., Finova Capital Corporation and The CIT Group/Business Credit, Inc. The services we have rendered to our factoring/commercial clients have ranged from incorporating start-up companies, to preparing their standard documents, to negotiating major transactions, to advising our clients as to troubled creditors, both in and out of bankruptcy proceedings.
In addition to factoring and asset-based lending, we also have experience with unsecured lines of credit, financing of acceptances and documents of title and leasing. We have represented sellers, buyers (borrowers), and lenders in all aspects of leveraged buyouts. We deal frequently with asset based lenders in documenting and closing secured transactions ranging in size from $100,000 to over $650,000,000 (including syndicated and participated loans), and we deal with all manners of related issues, including intercreditor, subordination, guaranty and other credit enhancement issues. Our attorneys have represented originators, issuers, agents and servicers in connection with securitizations of asset classes ranging from trade receivables to credit cards and mortgage-backed securities.
